Leisure Properties for sale in Merrick Street, ST1
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Income producing investment property fully let at £51,000 per annum exclusive.
Guide Price: £685,000 FREEHOLD SUBJECT TO CONTRACT
Newcastle Under Lyme is a market town in North Staffordshire situated 40 miles south of Manchester and 40 miles north-west of Birmingham and directly adjoins Stoke-on-Trent. The town has a population of over 75,000 and has become a very popular choice for students to study, due to Keele University. This University was founded in 1949 and is the UK’s largest campus University combining research facilities and science park.
Newcastle Under Lyme is a mixture of a vibrant centre with young people enjoying the bars and cafés, and an ancient market town famous for not being Stoke on Trent. It has a market 6 days a week and the famous amusement park, Alton Towers is not far away.
The property is well located on the South side of the pedestrianised Ironmarket in the heart of the town centre in Newcastle Under Lyme. Ironmarket is just off the A52 which links Newcastle Under Lyme and Stoke on Trent and is close to the M6 motorway. Nearby occupiers include Coral, HSBC, New Look, Wilkinson, Scotts, BetFred, Café Nero and Halifax and the Yates Public House amongst many others.
The premises are arranged as ground, first and second floors with two tenants, Loungers Ltd (Company No: 04595806) on the ground and part first floor benefitting from rear courtyard/outside seating area, paying a passing rent of £40,000 per annum, with the first floor and second floor offices let to Meridian Business Support Ltd (Company No: 02386774) paying a rent of £11,000 per annum.
TENANCY Loungers Ltd in relation to ground and part first floor, 57 – 58 Ironmarket, Newcastle Under Lyme – the Lease is for a straight 15 years on effective full repairing and insuring Lease terms with no breaks, commencing 26th October 2015, expiring 25th October 2030, paying an annual passing rent of £40,000 exclusive, quarterly in advance with rent reviews, upwards only, every fifth anniversary of the term to market rent.
Meridian Business Support Ltd relating to the first and second floor office premises at 56 and 58 Ironmarket, Newcastle Under Lyme have been tenants of the building since 2010 – the current Lease dated 21st October 2014 is for a term of 5 years from 31st October 2014, expiring 30th October 2019, paying an annual rent of £11,000 per annum. The tenants break option on 31st October 2017 was not activated.
GUIDE PRICE We are instructed to seek offers in excess of £650,000 (six hundred and fifty five thousand pounds) freehold subject to contract and both commercial leases producing a combined rental income of £51,000 pax. A purchase at this level would reflect a gross initial yield of 7.85% and a Net Initial Yield of 7.56% after purchase costs at 3.8%.
Loungers Ltd for the year ending 27th April 2017 Loungers recorded an increase in revenue from £68.5m to £91.8m and pre-tax profits of £3,186,658.
Meridian Business Support Ltd incorporated 19th May 1989. For the year ending 31st December 2016 Meridian Business Support reported a turnover of £98,687,640 and profit before tax for the year of £807,633.
VIEWING For further information please contact sole agents Messrs Nicholas Percival, for the attention of T Noble – 01206 563222
Highly prominent existing Car Showroom and Site fronting onto Liverpool Road
( Agency Pilot Software Ref: 1131 )
Lymedale Motors, Liverpool Road, Newcastle Under Lyme, ST5 9DX
Type: Office, General Retail, Distribution Warehouse, General Industrial, Leisure Property, Other, Serviced Office, Other, Restaurants/Cafes, Other, Land, Business Park, Storage, Retail Park, Other, Offices, Retail, Industrial, Licensed & Leisure, Other Property Types & Opportunities, Commercial Land
Lymedale Motors, Liverpool Road, Newcastle Under Lyme, ST5 9DXGBNewcastle-under-Lyme, NewcastleStaffordshireST5 9DXLiverpool Road
Freehold Public House located in Peak District National Park. Ground floor trading accommodation. Two en suite letting rooms.
The Property is located in the small village of Warslow, Staffordshire. It is located in the Peak District National Park, off the B5053, ten miles north of Ashbourne and 12 miles south of Buxton.
The Property comprises a detached two storey public house of stone elevations beneath a pitched local tile roof. Single storey extension to the rear. Beer garden and car park. Overall the site extends to 0.36 acres.